Business Guides & Insights

With Vietnam registering a GDP growth rate of 6.93% in the second quarter of 2024 (up from 5.87% in the first quarter), it’s not too hard to envision the country as one of the fastest-growing economies in the world. A key aspect of this increased growth rate is how the manufacturing sector has developed over…

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Overstaying a visa in Vietnam can cause major complications for both travelers and entrepreneurs exploring the country’s business landscape. Vietnam’s immigration laws are strict, and overstaying any visa—whether tourist, business, or work-related—can lead to significant travel-related problems such as fines, deportation, and blacklisting. All Vietnam visas have a fixed validity, which varies by citizenship, but…

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Franchising has long been a popular business model, and Vietnam’s fast-growing market presents significant opportunities for foreign brands through franchise Vietnam. Franchising allows international companies to expand and tap into the country’s favorable business climate. However, setting up a franchise in Vietnam requires strict adherence to government regulations. Foreign brands are increasingly drawn to Vietnam,…

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Vietnam’s economic expansion in September 2024 reflects robust growth, with foreign direct investment (FDI) reaching over US$20.5 billion in the first eight months, showing the country’s expanding appeal to global investors. Key sectors such as manufacturing, real estate, and semiconductors are experiencing significant investment expansion, driven by initiatives aimed at fostering innovation and expanding trade….

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Electric vehicles in Vietnam are a key part of the country’s commitment to lower its carbon emissions by switching to low-carbon fuel options. Hence, it has built a robust EV ecosystem, which supports customers looking to adopt Vietnam electric cars. The electric vehicle market in Vietnam has been boosted by adequate infrastructure development and policy…

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VAT refunds in Vietnam are a key aspect of doing business in the country that foreign entrepreneurs must comply with.  Although the standard VAT rate in Vietnam is 10%, it was reduced briefly in 2022 to recover from the COVID-19 pandemic hardship. The National Assembly approved a resolution on fiscal and monetary policies. The Vietnam…

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As of July 2023, Vietnam witnessed an increased number of new businesses (13.7 thousand) registering in the country, taking the registered capital of doing business to nearly VND 127 trillion. This is a 2.4% rise in registered capital and a 4.3% rise in the number of businesses registered as compared to the same period in…

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Vietnam’s IT outsourcing sector is experiencing significant growth, fueled by a large pool of technologically skilled workers ready to support foreign businesses. The country ranks second in the Asia Pacific region for outsourcing potential, offering attractive opportunities for both local and international companies. With 54% of foreign businesses utilizing IT outsourcing services in Vietnam, the…

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Investing in food and beverage companies in Vietnam seems like a lucrative opportunity in 2024 as the market value of this sector is set to increase by 11% with US$26.1 billion (VND 655 trillion) in revenue capacity. This boom is due to increased spending, especially in the restaurant segment, which accounted for 68% of revenue…

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Are you looking to open a dental care clinic in Vietnam but need more clarification about the cost and other details? Then this guide on opening a dental practice in Vietnam is for you, as it shows how it can be a 100% foreign-owned business now.  Like all other businesses, a dental practice has its…

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Investors are increasingly setting up a joint venture (JV) company in Vietnam for several key reasons. This kind of business allows rapid expansion into new markets by leveraging local partner resources and networks. It also enables cost-sharing, reducing financial risks associated with market entry. Additionally, local partnerships provide valuable market insights, enhancing competitive advantage. Finally,…

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Vietnam’s evolving tax system and rapid tech adoption create significant challenges for accounting and tax compliance. Despite gradual improvements, navigating these changes requires local expertise and up-to-date legal knowledge. Many companies are rethinking their approach to taxation compliance, prioritizing better service providers, technology, and resources to improve tax reporting. Successful business operations in Vietnam depend…

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Vietnam’s economic momentum in 2024 reflects its growing appeal as a global investment destination. From major foreign direct investments in key industrial parks like Nam Dinh Vu to robust trade relations with strategic partners such as Singapore, India, and China, the country is positioning itself as a pivotal hub in Southeast Asia. This year has…

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Vietnam is emerging as a key source of inexpensive labor for businesses expanding in Southeast Asia and Asia-Pacific, thanks to its resilient economic performance, growing working population, and low manufacturing costs. The country’s minimum wage, at around US$200 a month, is nearly half of China’s, making it a highly competitive market for international businesses. However,…

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